Local production of nut, screw saves huge forex

Staff Correspondent
Bangladesh has been able to save huge amount of foreign exchange by attaining capacity of producing fasteners – mostly know as nut, bolt and screw mostly used in the engineering sector.
Fasteners, one of the most important light engineering items, which are used in heavy engineering as well as different manufacturing industries like furniture, automobiles, electrical and electronics appliances, are used to hold more than one object together.
There is huge demand for fasteners in almost all sectors in the country as this engineering spare has diversified uses in all machineries, house-hold appliances, furniture, home fittings, vehicles, etc.
For grabbing the huge domestic market, the Bangladeshi multinational electronics and electrical brand Walton has planned to increase the production of its nut, bolt and screw to meet the growing demands of locally made fasteners.
To this extent, the company is going to install most advanced machineries at its nut, bolt and screw manufacturing unit at Chandra in Gazipur with the aim of raising the production capacity of the existing unit by triple. Also, they are increasing the number of workforce of the unit, company sources informed.
Local traders said, earlier they had to import a large volume of nut, bolt and screw which used to cause high costs and more time.
But, supply of local made fasteners helped stop import and save huge amount of costs and time, they said adding, the quality of Walton fasteners is up to the international standard.
Abdur Rouf, head of Industrial Solutions Department of Walton, said, they are manufacturing world-class nut, bolt and screw with sophisticated machineries at Walton Hi-Tech Industries.
He said that the annual production capacity of their unit is around 1800 tonnes whereas Walton uses about 360 to 400 tonnes fasteners annually to manufacture its wide ranges of hi-tech appliances.
They planned to supply the rest of the production capacity to both the local and the overseas companies, saying it he noted that Walton has already supplied a large volume of fasteners to various local manufacturing industries like furniture, bicycle, motorcycle, home and kitchen appliances manufacturing units.